PIA pushes cargo capacity
02 / 06 / 2011
PAKISTAN International Airline’s (PIA) cargo capacity and revenue both grew in the 2010/2011 financial year.
Cargo capacity increased by 8.8 per cent, helped by new routes to Barcelona (Spain) and Chicago (US) introduced during the year.
The cargo business generated Rs. 6.4 billion (US$77.5 million) against Rs. 4.98 billion ($58 million) in the previous year. This constituted six per cent of the company’s total revenue.
However, despite positive year-on-year revenue growth of 13 per cent, the overall financial position did not improve materially as compared to last year due to rising oil prices in global markets.